CCR – The Opportunities Beyond Credit Risk
For a long time, comprehensive credit reporting (CCR) has been a concept that was very much the domain of credit risk. This outlook is set to change as CCR is applied to business areas other than risk in order to grow revenues, reduce bad debt and improve customer experience. The 2012 market leading CCR pilot study by Veda (now Equifax), the largest of its kind, enabled Equifax to consider all critical factors and gain valuable insights relating to CCR in Australia. The study demonstrated there is up to 10 per cent improved profitability to be gained in the transition to CCR – in improved credit assessment and management. This is in addition to any benefits that come from processes supporting more effective customer acquisition.
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